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Wale Edun: FG To Curb Rising Inflation With ‘Cut In Money Supply

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Wale Edun: FG To Curb Rising Inflation With ‘Cut In Money Supply

 

The Federal Government plans to cut the cash in circulation to rein in inflation, Minister of Finance and Coordinating Minister for the Economy (CME), Mr. Wale Edun, hinted.

 

He said the measure became imperative to keep rising inflation at a desirable and stable level.

 

 

 

Edun, who was inaugurated on Monday as a minister, spoke in Abuja while chairing the Federation Account Allocation Committee (FAAC) meeting.

 

Wale Edun: FG To Curb Rising Inflation With ‘Cut In Money Supply

 

“There should be discipline in money supply to control inflation in the nation’s economy,” the minister told FAAC members.

 

By emphasizing discipline in money supply, the CME Finance minister is referring to the need to carefully regulate the creation and circulation of money in the economy.

 

On the monetary side, it involves controlling the growth of the money supply through various measures, such as adjusting interest rates, open market operations, or setting reserve requirements for banks.

 

On the Fiscal side, caution will be required on how the federal, state, and local governments disburse money.

 

By maintaining discipline in the money supply, the government aims to keep inflation within a target range that is conducive to stable economic growth and price stability.

 

Ultimately, the objective is to strike a balance between ensuring adequate money supply to support economic growth and preventing excessive inflation that can erode the value of currency and cause economic instability.

 

The finance minister also noted that there was a need for government to mobilize resources to deliver on its mandate to increase employment and reduce poverty.

 

The FAAC agreed to share N966.11 billion as federal allocation to the three tiers of government last month.

 

The amount was shared from total gross revenue of N1.746 trillion.

 

The total revenue was made up of statutory revenue of N397.42 billion; Value Added Tax (VAT) revenue of N271.95 billion; Electronic Money Transfer Levy (EMTL) revenue of N12.84 billion and Exchange Difference revenue of N283.9 billion.

 

For last month, the total deductions for the cost of collection came to N62.42 billion, while the total deductions for savings, transfers, refunds, and tax credit cancellation amounted to N717.96 billion.

 

The Excess Crude Account (ECA) stood at $473,754.57.

 

A communiqué made available to reporters after the meeting further detailed the distribution of the total distributable revenue.

 

Of the N966.11 billion, the Federal Government got N374,48 billion, the state (N310.67 billion) and the 774 local government areas went home with N229.41 billion.

 

Additionally, N51.55 billion was shared among the relevant states as 13 percent derivation revenue.

 

The gross statutory revenue for the month of July was N1.15 trillion, which was lower than the N1.15 trillion generated in the preceding month (June) by N2.49 billion.

 

From the available N397.42 billion as statutory revenue, the federal government was given N190.49 billion, the 36 states got N96.62 billion and the councils shared received N74.49 billion.

 

The oil producing states got N35.82 billion as 13 per cent derivation.

 

For July, the available gross revenue from VAT was N298,79 billion, which was higher than the N293.41 billion available in June by N5.38 billion.

 

The federal government received N40.792 billion, the states (N135.97 billion) and councils (N95.18 billion) from the N271.94 billion distributable VAT revenue.

 

The N12.84 billion EMTL was shared among the federal government, which got N1.93 billion, the state governments, which received N6.42 billion and the local government areas (N4.49 billion).

 

From the N283.9 billion Exchange Difference revenue, the Federal Government received N141.28 billion, the state governments (N71.66 billion, the councils received N55.245 billion, and N15.72 billion was shared among the relevant states as 13 percent mineral revenue.

 

The communiqué noted that Imports and Excise Duties, as well as Electronic Money Transfer Levy (EMTL), saw significant increases for last month.

 

There were notable declines in revenues from VAT, Petroleum Profit Tax (PPT), Companies Income Tax (CIT) and Oil and Gas Royalties.

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Aare Adetola EmmanuelKing Felicitates Olofin of Ilisan Remo on 86th Birthday

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Aare Adetola EmmanuelKing Felicitates Olofin of Ilisan Remo on 86th Birthday

 

The Borokinni of Ilishan Remo, Sir Aare Adetola EmmanuelKing KOF, has extended warm birthday felicitations to the Olofin of Ilisan Remo, His Royal Majesty, Oba (Dr.) Barr. Michael Olufemi Mojeed Sonuga Daniyan II, as the revered monarch celebrates his 86th birthday anniversary.

In a statement released to commemorate the royal father’s birthday, Aare Adetola EmmanuelKing described the monarch as a symbol of peace, wisdom, progress, and exemplary royal leadership, whose reign has continued to bring honor and development to Ilisan Remo.

According to him, since ascending the revered throne of his forefathers, the Olofin has consistently demonstrated purposeful leadership and unwavering commitment to the unity, growth, and cultural advancement of the kingdom, while fostering peace and harmony among the people.

He further noted that the monarch’s reign has inspired pride and confidence among indigenes of Ilisan Remo both at home and in the diaspora, adding that Kabiyesi’s dedication to community development and preservation of tradition remains highly commendable.

The Borokinni prayed for continued divine grace, sound health, long life, and greater wisdom for the royal father as he continues his impactful reign on the throne of his ancestors.

“On behalf of my family, associates, and well-wishers, I heartily congratulate His Royal Majesty, Oba (Dr.) Barr. Michael Olufemi Mojeed Sonuga Daniyan II, the Olofin of Ilisan Remo, on the joyous occasion of his 86th birthday. May Almighty God continue to strengthen Kabiyesi with peace, sound health, and many more years of fruitful reign,” he stated.

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Aliko Dangote Foundation, WEF Unveil 2026 YGL Aliko Dangote Fellows

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Titans and Trailblazers: Nigeria’s Great Entrepreneurs from Abiola to Dangote — The Story of Wealth, Influence, and National Impact. By George Omagbemi Sylvester | Published by saharaweeklyng.com 

Aliko Dangote Foundation, WEF Unveil 2026 YGL Aliko Dangote Fellows

…Spotlighting Africa’s Next Generation of Change Leaders

 

 

 

World Economic Forum (WEF) in partnership with the Aliko Dangote Foundation (ADF) has announced the 2026 cohort of the Young Global Leaders (YGL) Aliko Dangote Fellows, highlighting a new generation of African leaders committed to expanding opportunity and strengthening institutions across the African continent.

 

 

 

The Fellowship serves as a critical bridge between Africa’s emerging changemakers and the global Young Global Leaders network, fostering collaboration, knowledge exchange, and sustainable development. The YGL Aliko Dangote Fellowship supports high-impact African leaders by enabling their full participation in the Forum of Young Global Leaders (YGL) programme and broader WEF activities.

 

WEF said the 2026 YGL Aliko Dangote Fellows represent diverse professional backgrounds spanning healthcare, technology, entrepreneurship, and advocacy across sub-Saharan Africa. The newly selected fellows are Dr. Esperance Luvindao; Charlot Magayi, Founder of Mukuru Clean Stoves; Rewa Udoji, Founder of Cranstoun; Dr. Stephen Modise; Dr. Musa Kika; Hatim Eltayeb; Kemi Lala Akindoju; and Vimbai Masiyiwa.

 

 

 

With a strong emphasis on empowering women leaders, the Fellowship is designed to support Africans shaping solutions to pressing social and economic challenges while strengthening leadership capacity across key sectors.

 

 

 

Over the past 14 years, the Aliko Dangote Foundation–powered Fellowship has supported more than 130 young African leaders, providing access to Davos meetings, executive education opportunities, and influential peer networks that amplify African voices on the global stage.

 

 

 

Commenting on the announcement, Fatima Aliko Dangote, Trustee of the Aliko Dangote Foundation and Group Executive Director, Oil & Gas, Dangote Industries Limited, described the 2026 fellows as “leaders who will expand opportunity and strengthen institutions, advancing Africa on its own terms.”

 

She added: “Africa’s future will be defined by the strength of its people. When the right leaders—especially women—are empowered and given a global voice, they do not just lead; they reshape what is possible. That is why we invest in people: because it is the surest path to lasting global prosperity, stability, and self-determination. The 2026 cohort embodies this vision.”

 

According to her: the 2026 YGL Aliko Dangote Fellows represent that future leaders who will expand opportunity and strengthen institutions, advancing Africa on its own terms while helping define a world whose future will be shaped by the continent.

 

 

 

 

 

She explained that the idea behind the YGL Aliko Dangote Fellowship is to cultivate, empower, and support exceptional African leaders under 40, ensuring they have the resources to participate in the World Economic Forum (WEF)’s Young Global Leaders (YGL) community. It specifically aims to accelerate their impact on the continent and globally.

 

 

 

 

 

Details of the new fellows in the announcement indicated that; Hatim Eltayeb, is the Chief Executive Officer of African Leadership Academy, strengthening one of the continent’s most important leadership institutions; Dr Esperance Luvindao, Namibia’s Minister of Health and Social Services, combining clinical experience with digital health and grassroots innovation; Charlot Magayi, the Kenyan founder of Mukuru Clean Stoves, linking clean energy, public health and livelihoods; Dr Stephen Modise, Botswana’s Minister of Health, bringing a data-driven approach to public health reform.

 

 

 

 

 

Dr Musa Kika, Executive Director of the Institute for Human Rights and Development in Africa, using law to defend constitutionalism and civic space; Rewa Udoji, the Nigerian artist and finance professional whose work bridges culture, capital and women’s economic literacy; Kemi Lala Akindoju, the Nigerian producer and actor helping reshape the creative economy through talent development, financing and more grounded storytelling; and Ms Vimbai Masiyiwa, co-founder and Chief Executive Officer of Batoka Africa, building a model of tourism rooted in sustainability, community ownership and women’s empowerment. Together, they reflect the range of leadership the fellowship is designed to support public leaders, entrepreneurs, institution-builders and cultural actors already shaping systems in very different ways.

 

 

 

It would be recalled that Aliko Dangote YGL Fellowship has supported more than 90 Fellows from over 25 African countries, thus enabling full participation in the World Economic Forum’s Young Global Leaders programme through access to convenings, executive education, peer networks and global platforms.

 

Over that period, Fellows have taken part in more than 400 engagements across Annual Meetings, regional summits and learning modules, contributing to debates on finance, climate, health, technology and governance.

 

 

 

 

 

 

 

 

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Norwegian Sovereign Wealth Fund Eyes Partnership with Dangote Group on Africa Investments

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Norwegian Sovereign Wealth Fund Eyes Partnership with Dangote Group on Africa Investments

 

The President/Chief Executive of Dangote Group, Aliko Dangote has held a high-level meeting with Nicolai Tangen, the Chief Executive Officer of Norges Bank Investment Management, the world’s largest sovereign wealth fund manager, overseeing assets valued at approximately $1.9 trillion.

 

At the meeting, the Norwegian investment institution expressed strong interest in partnering with Dangote Group to expand its footprint across the African continent, with a focus on strategic sectors including power, energy, renewables, agriculture, fertiliser and cement.

 

Also present at the meeting were Svein Tore Holsether, Chief Executive Officer of Yara International, one of the world’s leading fertiliser and agricultural companies, and Terje Pilskog, Chief Executive Officer of Scatec, a global renewable energy company.

 

The engagement shows growing global investor confidence in Africa’s industrial and infrastructure potential, as well as the increasing role of indigenous conglomerates such as Dangote Group in driving large-scale economic transformation.

 

For Dangote Group, the potential partnership represents a significant opportunity to deepen its investments across key sectors critical to Africa’s development, particularly in energy transition, food security and industrial capacity expansion.

 

The Norwegian sovereign wealth fund, widely regarded as a benchmark for global institutional investment, has in recent years shown increased interest in emerging markets, with Africa seen as a frontier for long-term value creation.

 

The collaboration between the fund and Dangote Group could unlock substantial capital flows into critical infrastructure and industrial projects, further accelerating economic growth and regional integration across the continent.

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